When a man spends his own money to buy something for himself, he is very careful about how much he spends and how he spends it. When a man spends his own money to buy something for someone else, he is still very careful about how much he spends, but somewhat less what he spends it on. When a man spends someone else's money to buy something for himself, he is very careful about what he buys, but doesn't care at all how much he spends. And when a man spends someone else's money on someone else, he does't care how much he spends or what he spends it on. And that's government for you.
– Milton Friedman
That's pretty good. I thought Freedman was a fired-up liberal, and pro-Obama?
ReplyDeleteMade me think of Margaret Thatcher once again: "The trouble with socialism is that you eventually run out of other people's money."
Aaah Uncle Milty, well the one good thing coming out of the Obama Presidency is that more people are reading Hayak, Friedman, Mises. Thanks to Ron Paul.
ReplyDeleteFriedman was pretty big on l'aissez faire capitalism, really.
ReplyDelete